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Act

Currency Exchange Act

  • 205 ILCS 405/0.1— Short Title
  • 205 ILCS 405/1— Definitions; application of Act
  • 205 ILCS 405/2— License required; violation; injunction
  • 205 ILCS 405/3— Powers of community currency exchanges
  • 205 ILCS 405/3.1
  • 205 ILCS 405/3.2— (Repealed)
  • 205 ILCS 405/3.3— Additional public services
  • 205 ILCS 405/4— License application; contents; fees
  • 205 ILCS 405/4.1— Application; investigation; community need
  • 205 ILCS 405/4.1B— Anti-money laundering requirements
  • 205 ILCS 405/4.2
  • 205 ILCS 405/4.3— Upon receipt of an application from an ambulatory currency exchange for the conduct of its business at a location to be served by it, the Secretary shall cause an investigation to be made to determine whether to issue said license
  • 205 ILCS 405/5— Bond; condition; amount
  • 205 ILCS 405/6— Insurance against loss
  • 205 ILCS 405/7— Available funds; minimum amount
  • 205 ILCS 405/8— A community or an ambulatory currency exchange shall not be conducted as a department of another business
  • 205 ILCS 405/9— No community or ambulatory currency exchange shall issue tokens to be used in lieu of money for the purchase of goods or services from any enterprise
  • 205 ILCS 405/10— Qualifications of applicant; denial of license; review
  • 205 ILCS 405/10.1— (Repealed)
  • 205 ILCS 405/11— Such license, if issued for a community currency exchange, shall state the name of the licensee and the address of the licensed location
  • 205 ILCS 405/12— If the Secretary shall find at any time that the bond required by Section 5 is insecure or exhausted or otherwise doubtful, an additional bond in like amount to be approved by the Secretary shall be filed by the licensee within 30 days after written demand therefor upon the licensee by the Secretary
  • 205 ILCS 405/13— No more than one place of business shall be maintained under the same community currency exchange license, but the Secretary may issue more than one license to the same licensee upon compliance with the provisions of this Act governing an original issuance of a license, for each new license
  • 205 ILCS 405/13.1— Consolidation of business locations
  • 205 ILCS 405/14— Every licensee, shall, on or before November 15, pay to the Secretary the annual license fee or fees for the next succeeding calendar year and shall at the same time file with the Secretary the annual bond or bonds and the insurance policy or policies as and if required by this Act
  • 205 ILCS 405/14.1— All moneys received by the Department under this Act shall be deposited in the Financial Institution Fund created under Section 6z-26 of the State Finance Act
  • 205 ILCS 405/15— Fines; suspension; revocation
  • 205 ILCS 405/15.1
  • 205 ILCS 405/15.1a
  • 205 ILCS 405/15.1b— Liquidation; distribution; priority
  • 205 ILCS 405/15.1c— Powers of receiver
  • 205 ILCS 405/15.1d— At the close of a receivership, the receiver shall turn over to the Secretary all books of account and ledgers of such currency exchange for preservation
  • 205 ILCS 405/15.1e
  • 205 ILCS 405/15.2
  • 205 ILCS 405/16— Annual report; investigation; costs
  • 205 ILCS 405/17— Every licensee shall keep and use in his business such books, accounts and records as will enable the Secretary to determine whether such licensee is complying with the provisions of this Act and with the rules, regulations and directions made by the Secretary hereunder
  • 205 ILCS 405/18— Proof of address
  • 205 ILCS 405/19— The Department may make and enforce such reasonable rules, directions, orders, decisions and findings as the execution and enforcement of the provisions of this Act require, and as are not inconsistent within this Act
  • 205 ILCS 405/19.1— Whenever an ambulatory currency exchange shall be actively engaged in the cashing of checks other than from within an armored vehicle, such currency exchange shall provide armed guards as it deems necessary for the protection of its customers and the Public
  • 205 ILCS 405/19.3— (A) The General Assembly hereby finds and declares: community currency exchanges and ambulatory currency exchanges provide important and vital services to Illinois citizens
  • 205 ILCS 405/19.4
  • 205 ILCS 405/20
  • 205 ILCS 405/21
  • 205 ILCS 405/22.01— All final administrative decisions of the Secretary hereunder shall be subject to judicial review pursuant to the provisions of the Administrative Review Law, and all amendments and modifications thereof, and the rules adopted pursuant thereto
  • 205 ILCS 405/22.03— (Repealed)
  • 205 ILCS 405/23— If any licensee, or agent or employee of a licensee, fraudulently takes and secretes any money, note, bill, bond or other property belonging to another and in the possession and custody of such licensee as agent or otherwise, he shall be guilty of theft and punished accordingly
  • 205 ILCS 405/24— Violations
  • 205 ILCS 405/25— (Repealed)
  • 205 ILCS 405/27— Nothing contained in this Act shall be construed so as to limit the power of municipalities, to license and tax community currency exchanges, and to regulate their location and operation in a manner not inconsistent with this Act
  • 205 ILCS 405/28— Unless an ambulatory currency exchange shall engage in the business of selling or issuing money orders under his, their or its name, or any money orders other than those excepted in Section 1 of this Act, Sections 5, 6, 7, 15.1 and 15.2 of this Act shall not be applicable to it
  • 205 ILCS 405/29
  • 205 ILCS 405/29.5— Cease and desist
  • 205 ILCS 405/30— If any part or provision of this Act shall be declared unconstitutional, the unconstitutionality of such part or provision shall not invalidate the constitutional provisions of this Act